A forum was held on June 27, 2026, where the latest Consumer Confidence Index report was unveiled.
The report was presented by Ma Jingjing, a professor and director of a research center at the university, who shared the latest findings from the "China Consumer Confidence Index" research.
The core conclusion is that experiential consumption is becoming a crucial engine for China's current consumption growth and a vital tool for stabilizing employment and boosting domestic demand.
Shifting from 'Owning More' to 'Experiencing Better': A Change in Consumer Demand
The "China Consumer Confidence Index" system differs from traditional international indices by combining nationwide online sampling with big data sentiment analysis across key consumption sectors.
Professor Ma explained that the data analysis reveals psychological needs now have a far greater impact on Chinese consumers' sense of happiness than material needs, providing an empirical basis for the growing importance of experiential consumption.
"After material life becomes abundant, people easily reach satiation with material consumption but are less likely to do so with experiential consumption—particularly cognitive and social experiences," Professor Ma stated, noting that younger generations show a clear preference for experiences over material goods.
The momentum of China's consumption growth is accelerating its shift from "material" to "experience."
Behind Perceived Weak Consumption Lies a Structural Shift
The research team emphasized that perceived "insufficient consumption" does not reflect a total decline in willingness to spend but rather a migration in consumption structure.
People are inclined to reduce some material spending in favor of experiential consumption that fulfills unmet psychological needs.
Professor Ma gave examples, such as consumers cutting back on cosmetics and luxury goods but willingly spending on pets or memorable experiences.
This assessment aligns with official data showing faster growth in spending on education, culture, entertainment, and services compared to material goods like clothing and housing.
Experiential Consumption: More Than Just Business, It's About Livelihoods
The research team highlighted the relationship between experiential consumption and employment, noting that the tertiary sector now accounts for the largest share of both GDP and employment in China.
"Developing experiential consumption is essentially not just about making money but about creating jobs and stabilizing employment," Professor Ma stressed, describing a virtuous cycle where stable employment supports income and boosts consumption.
From Understanding to Designing Experiences: A Methodology for Businesses
Professor Ma also outlined the underlying logic and design methods for experiential consumption, providing actionable strategies for companies.
The presentation referenced classic consumer psychology research explaining why experiences bring more happiness, citing mechanisms like their incomparability and stronger connection to social bonds and self-identity.
Using a framework of five experiential dimensions, the team proposed an "experience design toolbox" with specific methods like the "peak-end rule" and creating a sense of ritual.
Local case studies from companies like Xiaomi, Pop Mart, Luckin Coffee, and Pang Donglai were used to illustrate how businesses can transform ordinary products into memorable experiences.
"Most products can be either material or experiential consumption; the key lies in how you design the product and shift the consumer's purpose," Professor Ma concluded, framing experiential consumption as a strategic path for growth and social stability.
Panel Discussion Insights
A subsequent panel discussion featured industry leaders who shared practical insights aligning with the report's conclusions.
The panelists agreed that, supported by national policies and the objective stage of consumption upgrading, the experience-driven economy has become a long-term strategic focus for stimulating domestic demand and driving economic growth.
One panelist emphasized that the user is the core asset of a company and that consumer decisions heavily depend on user experience, which should be managed as a core corporate strategy with quantifiable metrics.
Another pointed out that emerging formats in the animation industry, such as trendy IPs and AI-generated content, precisely meet the psychological needs of young people, transforming the business model into a diversified experiential one.
A third panelist added that in the digital age, companies need to rationally manage user experience expectations and build systematic, long-term management systems to address industry pain points like over-reliance on judgment and the difficulty of quantifying user needs.
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